NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

TORONTO, CANADA — (June 9, 2020) — Antibe Therapeutics Inc. (TSXV: ATE) today announced that it has entered into a bought deal agreement with a syndicate of underwriters led by Bloom Burton Securities Inc. and including Echelon Wealth Partners Inc., Paradigm Capital Inc., Raymond James Ltd., Stifel GMP and Industrial Alliance Securities Inc. (the “Underwriters”), pursuant to which the Underwriters have agreed to purchase 62,500,000 units of the Company (the “Units”) at a price of $0.40 per Unit for gross proceeds of $25,000,000 (the “Offering”). Each Unit shall consist of one common share of the Company (a “Share”) and one-third (1/3) of one Common Share purchase warrant (a “Warrant”), each whole Warrant exercisable for one common share at a price of $0.60 per share for a period of 24 months. In addition, the Underwriters will have the option, exercisable until 30 days after the closing date, to acquire up to that number of additional Units equal to 15% of the Units sold and/or additional Warrants equal to 15% of the number of Warrants sold (the “Over-Allotment Option”). If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering would be $28,750,000.

The net proceeds of the Offering will be used to fund activities required for large market partnering and in support of the Phase 3 program for ATB-346, for business development activities, and for advancing the other drugs in the Company’s pipeline including ATB-352. The remainder of the net proceeds will be used for working capital and general corporate purposes. The Units will be offered by way of a short form prospectus to be filed in the provinces of British Columbia, Alberta, Saskatchewan Manitoba and Ontario. The Offering is scheduled to close on or about June 30, 2020.

A preliminary short form prospectus containing important information relating to the securities described in this document has not yet been filed. Once filed, copies of the preliminary short form prospectus may be obtained from Bloom Burton Securities Inc., 65 Front Street East, Suite 300, Toronto, Ontario, M5E 1B5, Email: ecm@bloomburton.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued. This news release does not provide full disclosure of all material facts relating to the securities offered. Investors should read the preliminary short form prospectus, final short form prospectus and any amendment, for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

The Offering is subject to the receipt of all necessary regulatory and stock exchange approvals. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or “U.S. persons” (as such term is defined in Regulation S promulgated under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Antibe Therapeutics Inc.
Antibe develops safer, non-addictive medicines for pain and inflammation. Antibe’s technology involves the linking of a hydrogen sulfide-releasing molecule to an existing drug to produce an improved medicine. Antibe’s lead drug, ATB-346, targets the global need for a safer, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a non-addictive analgesic for treating post-surgical pain, while ATB-340 is a GI-safe derivative of aspirin. Citagenix Inc., an Antibe subsidiary, is a market leader and worldwide distributor of regenerative medicine products for the dental marketplace. www.antibethera.com.

Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the possible exercise of the Over-Allotment Option, the proposed licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s inability to secure additional financing and licensing arrangements on reasonable terms, or at all, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Antibe Therapeutics Inc.
Christina Cameron
VP Investor Relations
+1 416-922-3460
christina@antibethera.com


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